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Yahoo BusinessJan 23, 2020
Chinese Stocks Plunge in Worst End to Lunar Year on Record
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.Panic coursed through the world's second-largest equity market as investors sold stocks on concern a deadly virus will worsen over China's week-long trading break.The Shanghai Composite Index settled 2.8% lower after the close of trading, the worst end to a Lunar Year in its three-decade history. More than 90% of the mainland's 4,000 stocks fell on volumes that were 20% above average, with foreign traders selling a record $1.7 billion worth of the shares via links with Hong Kong. The yuan weakened as much as 0.4% and government bond futures rose to the highest since 2016.Pressure is building on Beijing to contain a new SARS-like virus that's killed at least 17 people and infected hundreds. The coronavirus first appeared last month in the city of Wuhan in central China, a city with 11 million residents -- more than in London or New York -- that's now essentially in lockdown after officials halted public travel.Inside China's Virus Zone, Unease Grips a City in Lockdown"Fear and panic are rampant," said Wang Daixin, a fund manager at Bristlecon Pine Asset Management Ltd. "It's hard to tell how bad things will get before a turn for the better. I didn't get out when I had the chance to, so now I might as well sit it out rather than lose money. Others are offloading at whatever cost."The virus and its potential impact on the economy and financial system pose a growing challenge for President Xi Jinping. It c

Reuters BusinessJan 22, 2020
After China trade deal, Europe and UK next on Trump's to-do list
U.S. President Donald Trump vowed to rip up international trade deals and rebalance America's global trade relationships.

Yahoo BusinessJan 22, 2020
U.S. home sales surge to near two-year high; supply at record low
U.S. home sales jumped to their highest level in nearly two years in December, the latest indication that lower mortgage rates are helping the housing market to regain its footing after hitting a soft patch in 2018, though record low inventory could be an obstacle to continued strong gains. The report from the National Association of Realtors on Wednesday followed on the heels of government data last week showing homebuilding raced to a 13-year high in December. Renewed housing market momentum could soften some of the hit on the economy from manufacturing as the thaw in U.S.-China trade tensions is offset by Boeing's suspension this month of production of its troubled 737 MAX plane.


Yahoo BusinessJan 22, 2020
Texas Instruments Points to Signs of Chip Industry Revival
(Bloomberg) -- Texas Instruments Inc. gave a quarterly sales and profit forecast that was in line with estimates, indicating that demand from electronics makers is poised to improve amid progress resolving the China-U.S. trade dispute.First-quarter earnings will be 96 cents a share to $1.14 a share, on revenue of $3.12 billion to $3.38 billion, the Dallas-based company said Wednesday in a statement. On average, analysts predicted profit of $1.04 a share and sales of $3.2 billion, according to data compiled by Bloomberg.Texas Instruments has the biggest customer list and widest product range in the semiconductor industry, making its earnings an indicator of demand across the economy. The company has told investors the electronics business is in the middle of a typical cyclical decline after companies ordered too many parts last year. Such gluts typically last five quarters. In Wednesday's report, which also included fourth-quarter results, Texas Instruments posted its fifth consecutive period of year-over-year revenue declines."Most markets showed signs of stabilizing," the company said in the statement.The company's forecast for the first quarter was held back by the outlook for the communications equipment industry, which is "going down hard," Chief Financial Officer Rafael Lizardi said during a conference call. Texas Instruments' key industrial and automotive markets are close to returning to growth, he said.Shares fell about 1% in extended trading after closing at $133.

Wall Street Journal US BusinessJan 21, 2020
President Trump Lauds U.S. Economy as He Opens World Economic Forum
President Trump touted what he described as a "blue-collar boom" transforming the U.S. economy and hailed his trade agreement with China in a speech to global business and government leaders, hours before his impeachment trial was set to begin.
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